Since the introduction of ChatGPT, several stocks have soared, notably AI chipmaker Nvidia (NVDA) becoming the second-largest market cap stock in the U.S. However, Vertiv Holdings (VRT, Financial), an Ohio-based cooling technology company, has become the biggest winner. Following the release of ChatGPT, Vertiv's stock skyrocketed 861%, driven by rising demand for cooling equipment in power-intensive data centers essential for AI growth.
In 2023 alone, Vertiv's stock surged 165%, more than doubling since early 2024. Jefferies reports highlighted Vertiv's strategic position to benefit from AI's accelerated demand in the data center industry.
Nvidia also saw significant gains, with a 722% increase in stock price, as its GPUs are crucial for AI's large language models. Other beneficiaries include Advanced Micro Devices (AMD) and Broadcom (AVGO), with increases of 90% and 208%, respectively. Overall, semiconductor stocks rose 77%, showcasing AI's investment allure.
